At the end of 2015, Golden Gate Corporation, a public entity which follows IFRS, owns equipment with a remaining life of 10 years and a carrying amount of $530,000. Golden gate expects undiscounted future cash flows from this equipment's use and eventual disposal to total $535,000. The equipment's fair value is $435,000 and disposal costs are estimated to be $10,000. The equipment's discounted cash flows from use and eventual disposal are estimated to be $475,000. Required: (you must show all supporting calculations) a) b) Prepare a calculation to assess whether the equipment is impaired at the end of 2015. Based upon your calculation, prepare any necessary journal entry. Assume the recoverable amount is calculated to be $450,000 at the end of 2016. Prepare a calculation to assess whether the equipment is impaired at the end of 2016. Based upon your calculation, prepare any necessary journal entry